The Buyer refit guide

In recent years the refit market has exploded in popularity. Rather than merely being considered a necessary part of a superyacht’s lifecycle management, refit today is considered a legitimate alternative to commissioning a new build project as it can save on time and cost when done properly. As well as the development of a number of renowned and highly specialised refit yards, the popularity of this sector has also seen major new build enterprises double down on the refit industry and bring their own expertise to the party.The first phase is a little bit ‘circular’, rather like a dog chasing its tail.

1.You must define a rough budget and what you want to do. So, to a certain extent, you must make some rough price assumptions.

2. Define a period and a duration – then make sure the owner knows it and agrees!

3. Draft a list of the jobs that you want to complete, preferably in some logical order.

4.m Introduce gradually more and more detail and accuracy to your jobs list, therefore creating your specifications. The more accurate the request, the better the yards will quote – and the better you can compare.

5. Again, based on your budget, pick the yards for the beauty contest. Here, there are multiple schools of thought. I think it’s a good idea to pick a variety of yards; after all, you need to figure out if the delta in price walks hand in hand with the delta in quality.

6. It’s very important to read the small print and check all the additional expenses, logistics, crew, accommodation, etc.”

If speed is your priority in a refit, avoid altering major structures such as steel bulkheads, which lead to engineers and possibly classification organisations and a lengthier process. If structural changes are compulsory, “planning is paramount” .The work in the yard can be done quickly but only if the planning and preparation was done well in advance to minimise the time the boat was out of action.

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